Skip to main content

Country to pay up to Rs4b annually on loans obtained under CPEC

https://nation.com.pk/17-Jan-2018/country-to-pay-up-to-rs4b-annually-on-loans-obtained-under-cpec

January 17, 2018

ISLAMABAD - Pakistan will start paying up to Rs4 billion annually on loansobtained under China-Pakistan Economic Corridor (CPEC) in next few years, Senate standing committee on commerce and textiles was told on Tuesday.

The committee, which met under the chair of Senator Shibli Faraz, sought details of loans which will be payable in future. The officials of Ministry of Commerce told the members of meeting that new trade policy is in the making, in which service policy and investment and tariff issues are also included.

Officials said that the free trade agreement (FTA) with China is being considered again. The Ministry of Commerce officials said that the FTA with China will be revised.

Under the FTA signed with China in 2006, Pakistan was given market access at zero duty on industrial alcohol, textiles, marble, leather articles, sports goods, fruits and vegetables, iron and steel products and engineering goods. As per agreement, China reduced its tariff by 50 percent on fish, dairy products, frozen orange juice, plastic, rubber and leather products, knitwear and woven garments. But, Pakistani products were not feasible for the Chinese market due to high cost of doing business, whereas Pakistani markets became saturated with Chinese products.

The industry complained that the local market has collapsed due to cheap Chinese products and high cost of doing business. After the strong resentment from local industry and imbalance in trade, the government did not implement the second phase and tried to convince Chinese authorities to revise the existing terms of the agreement, on the less-than-equal reciprocity principle, to overcome growing trade imbalance between two countries.

The officials told the meeting that the free trade agreement with Indonesia would also be revised due to growing trade imbalance. The meeting was informed that the volume of export of dates has increased to 150 million from $140 million and a processing plant will be installed in Kahirpur. The Senate body suggested installing a plant at KP as well. The custom wing in Balochistan has been established which has stopped smuggling worth Rs9.5 billion. The officials said that 272 officers have been recruited for the wing, who are controlling smuggling of goods at borders in close coordination with Ministry of Interior

Comments

Popular posts from this blog

Balochistan to establish first medical university

https://www.dawn.com/news/1366135

The Newspaper's Staff CorrespondentOctober 25, 2017QUETTA: The provincial cabinet on Tuesday approved the draft for establishing a medical university in Balochistan.Health minister Mir Rehmat Saleh Baloch made the announcement while speaking at a press conference after a cabinet meeting.“The cabinet has approved the draft of the medical university which would be presented in the current session of the Balochistan Assembly,” he said, adding with the assembly’s approval the Bolan Medical College would be converted into a medical university.Published in Dawn, October 25th, 2017

CPEC Jobs in Pakistan, salary details

JOBS...نوکریاں چائنہ کمپنی میںPlease help the deserving persons...Salary:Salary package in China–Pakistan Economic Corridor (CPEC) in these 300,000 jobs shall be on daily wages. The details of the daily wages are as follows;Welder: Rs. 1,700 dailyHeavy Duty Driver: Rs. 1,700 dailyMason: Rs. 1,500 dailyHelper: Rs. 850 dailyElectrician: Rs. 1,700 dailySurveyor: Rs. 2,500 dailySecurity Guard: Rs. 1,600 dailyBulldozer operator: Rs. 2,200 dailyConcrete mixer machine operator: Rs. 2,000 dailyRoller operator: Rs. 2,000 dailySteel fixer: Rs. 2,200 dailyIron Shuttering fixer: Rs. 1,800 dailyAccount clerk: Rs. 2,200 dailyCarpenter: Rs. 1,700 dailyLight duty driver: Rs. 1,700 dailyLabour: Rs. 900 dailyPara Engine mechanic: Rs. 1,700 dailyPipe fitter: Rs. 1,700 dailyStorekeeper: Rs. 1,700 dailyOffice boy: Rs. 1,200 dailyExcavator operator: Rs. 2,200 dailyShovel operator: Rs. 2,200 dailyComputer operator: Rs. 2,200 dailySecurity Supervisor: Rs. 2,200 dailyCook for Chinese food: Rs. 2,000 dailyCook…

China’s 'Digital Silk Road': Pitfalls Among High Hopes

https://thediplomat.com/2017/11/chinas-digital-silk-road-pitfalls-among-high-hopes/


Will information and communication technologies help China realize its Digital Silk Road?By Wenyuan WuNovember 03, 2017In his speech at the opening ceremony of China’s 19th Party Congress, President Xi Jinping depicted China as a model of scientific and harmonious development for developing nations. Xi’s China wants to engage the world through commerce but also through environmental protection and technological advancement. This includes Beijing’s efforts to fight climate change with information and communication technologies (ICTs) that it plans to export along its “One Belt One Road” initiative (OBOR). Xi may have ambitious plans, but could China be throwing up obstacles in its own way?In his speech, the Chinese president emphasized the need to modernize the country’s environmental protections. The Chinese state is taking an “ecological civilization” approach to development and diplomacy, with a natio…